We assign a technical rating of 6 out of 10 to SHBI. In the last year, SHBI was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
SHBI has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 17.27, a Stop Loss order could be placed below this zone.
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12.82
We found 4 important support areas.
- A support zone ranging from 17.07 to 17.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @16.39 from a trend line in the daily time frame.
- A support zone ranging from 15.18 to 15.44. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @12.95 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 17.59 to 17.76. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 18.75 to 18.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SHBI is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SHBI is neutral. |
| ChartMill Relative Strength | 75.98 | POSITIVE | SHBI has a high relative strength, it outperformed 75.98% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SHBI is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SHBI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SHBI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 46.8 | NEUTRAL | The RSI value for SHBI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.15 | NEGATIVE | The MACD value suggests SHBI has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 21.63 | NEUTRAL | The Stochastics value for SHBI is a neutral value. |
| Average True Range in percent/ATR (20) | 2.44 | MEDIUM VOLATILITY | The ATR as a percentage value for SHBI suggests some volalility. |
| Average Directional Index/ADX (14) | 26.54 | POSITIVE | The high ADX value value for SHBI suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 17.77 | 17.30 | 0.47 (2.64%) | 25.00% |
| An entry @17.77. This is a Buy Stop order right above the resistance zone. | An exit @17.30. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.47 points, which is 2.64%. | For a 0.66% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of SHBI. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
17.59
-0.13 (-0.73%)
SHORE BANCSHARES INC / SHBI FAQ
What is the technical rating for SHBI stock?
ChartMill assigns a technical rating of 6 / 10 to SHBI.
Can you provide the trend direction for SHORE BANCSHARES INC?
The current trend direction for SHORE BANCSHARES INC (SHBI) is Bullish.
What is the RSI signal for SHBI stock?
SHORE BANCSHARES INC (SHBI) has an RSI value of 46.7974. This indicates that the stock is currently neutral.
What is the short term momentum for SHORE BANCSHARES INC (SHBI) stock?
The short term momentum for SHORE BANCSHARES INC (SHBI) is neutral.